Adani Group paid a share-back loan of Rs 7374 crore

Adani Group paid a share-back loan of Rs 7374 crore: Roadshow will also be done in Dubai, London and America to win the trust of investors

Mar 7, 2023 - 18:27
Adani Group paid a share-back loan of Rs 7374 crore

The Adani Group repaid a share-back loan of Rs 7374 crore ahead of time. The group gave this information on Tuesday. The Adani Group is trying to win the trust of investors by reducing the concerns related to its credit profile.
Adani Group's shares have been vigorous since the report of American short-seller Hindenburg Research on 24 January. Hindenberg accused the companies of Adani Group of stock manipulation and accounting fraud. However, the Adani Group has denied all the allegations of Hindenburg.
The group said, "Promoters of Adani Enterprises will release 3.1 crore shares or 4% stake, while promoters of Adani Ports will release 15.5 crore shares or 11.8% stake. Promoters of Adani Green Energy and Adani Transmission will release 1.2% and 4.5% stakes. Earlier in February, the group pre-paid a loan of $ 1.11 billion.
With this repayment, the group has so far represented a share-back finance of about $ 2.02 billion. Overall, the Net date of the firms of Adani Group was $ 24.1 billion by September 2022. After this preparation, the share price of the companies of the Adani Group is likely to rise further. Last week too, a strong recovery rally was seen in all 10 shares of the group.
To regain the trust of investors, the group recently held a fixed-income roadshow in Hong Kong and Singapore. Here investors were assured that he was in a good position to repay his borrowing. The Adani Group is now going to organize more road shows from 7 to 15 March in Dubai, London and America.
On March 6, 8 of the 10 shares of Adani Group rose. Enterprises shares climbed 5.45% to close at Rs 1,982. At the same time, Shares of Adani Transmission, Wilmer, Power, Total Gas, Green Energy and NDTV rose by 5-5%. Adani ports increased by 0.49%. At the same time, the Group's cement company ACC shares saw a decline of 1.53% and Ambuja by 1.80%.

Muskan Kumawat Journalist & Writer